When you buy a home, you want security to go with it. Mortgage Critical Illness Insurance1 can help. It provides financial protection for your mortgage if you are diagnosed with cancer, acute heart attack, or stroke.


Key benefits

Coverage and maximum benefit

Your CIBC Mortgage balance is reduced or paid off up to $500,000. This benefit is paid if you are diagnosed with a covered critical illness and satisfy the 30-day waiting period, and can help you maintain your lifestyle by freeing up money previously tied up in mortgage payments.

Savings for two applicants

When two applicants are approved for Mortgage Critical Illness Insurance, save 15% off the combined single premium rates.


You don’t need to make separate payments for your insurance premiums - they are added to your CIBC Mortgage payment and automatically adjusted if you change the frequency of your mortgage payment.

30-day review period

Coverage includes a review period of 30 days from the date you receive your Certificate of Insurance. If you cancel your coverage during this review period, you will receive a full refund of any premiums paid.


No premium is charged until your mortgage loan is funded.

Prior coverage recognition

If you are declined for critical illness insurance coverage on your new mortgage but you had critical illness insurance coverage on the CIBC mortgage you paid out, you may be eligible to have a portion of your new mortgage insured under “Prior coverage recognition”.


For more information about product terms and conditions or further assistance please call CIBC's Creditor Insurance Helpline at 1-800-465-6020 or visit one of our banking centresOpens a new window in your browser.

Did you know?

Working Canadians understand that a critical illness would have serious financial and emotional consequences. Among their top five financial concerns should they become critically ill is struggling or being unable to make mortgage or rent payments2. Yet, fewer than 1 in 10 Canadians actually have personal critical illness insurance3.

Interested in applying for Mortgage Critical Illness Insurance?